Largest us banks by assets

The Hanoitimes - Small and medium enterprises (SMEs) account for most of Vietnam’s businesses, contributing around half of total employment and 40% of GDP. Despite their significant contribution to the economy, SMEs still encounter numerous obstacles that inhibit their economic potential. The Asian Development Bank (ADB) and Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), the country’s largest commercial bank by assets, on Wednesday signed a US$300 million loan agreement to support the growth and productivity of SMEs in Vietnam. Illustrative photo. The facility is comprised of a senior unsecured A loan of US$200 million provided by ADB and a B loan of US$100 million provided by 12 commercial lenders and divided into a three-year tranche and a five-year tranche. “ADB’s partnering with BIDV, the largest lender to the country’s SME sector, will boost lending to businesses, which often find it challenging to … [Read more...] about ADB provides US$300 million loan to Vietnam’s BDIV to support SMEs

In the third quarter of this year Techcombank decided to pay stock dividends for 2017 to its shareholders at a ratio of two shares for each share held. – Photo cafef.vn In the third quarter of this year Techcombank decided to pay stock dividends for 2017 to its shareholders at a ratio of two shares for each share held. The decision was part of the bank’s plan to increase its charter capital to VND34.965 trillion (US$1.2 billion). To increase its capital, Military Bank maintained a dividend payout rate of almost 11 per cent, of which 6 per cent was paid in cash and the rest in shares. In the second quarter VPBank decided to issue 925 million shares to pay dividends to its shareholders, increasing its charter capital by VND9.256 trillion ($402.434 million). Analysts said plans to hike the charter capital have been going rather smoothly at both State-owned and private banks in recent times, especially those with good performances like VIB, HDBank, VPBank, Maritime Bank. … [Read more...] about Stock dividends keep shareholders happy, enable banks to increase capital

The Hanoitimes - Vietnam is working to ease the foreign ownership limit to attract overseas capital, restricting foreign ownership in banking at 30%, any single foreign investor restricted to 20%. South Korean banks are expanding their operations in Vietnam, thanks to the country's growth potential and its plan to loosen foreign ownership limits, Nikkei Asian Review reported. Illustrative photo. KEB Hana Bank, South Korea's second-largest lender by assets, is in talks with the State Bank of Vietnam (SBV) to buy a 17.65% stake in state-run Bank for Investment and Development of Vietnam (BIDV) in a deal worth US$26.6 million, a source told the Nikkei Asian Review. The SBV, which owns a 95.28% share of BIDV - Vietnam’s second-largest state-owned bank by assets, "proposed to sell" the stake to KEB Hana, said the source, who requested anonymity. In January, Vietnam's Deputy Prime Minister Vuong Dinh Hue invited KEB Hana to participate in reforming the … [Read more...] about Deregulation is Vietnam’s major attraction to South Korean banks

Moody’s has also affirmed the foreign currency deposit ratings of the first three banks at B2, with the ratings were constrained by Vietnam’s foreign currency deposit ceiling of B2. The credit rating agency has upgraded the Baseline Credit Assessments (BCA) for the three banks to b1 from b2. Simultaneously, Moody’s has changed the outlooks on the local-currency deposit and local- and foreign-currency issuer ratings of ACB, MB Bank, and Techcombank to stable from positive, and revised the outlook for the same ratings for VPBank to positive from stable. The ratings of the other 12 banks rated by Moody’s in Vietnam remain unchanged. Moody’s upgraded the ratings of ACB, MB Bank, and Techcombank to B1 from B2 based on its upgrade of the banks’ BCAs to b1 from b2. ACB, MB Bank, Techcombank, and VPBank has seen improvements ACB The upgrade of ACB’s BCA reflects its improved asset quality, following the good progress in the resolution of its … [Read more...] about Moody’s upgrades rating of four banks in Vietnam

The Viet Nam Bank for Industry and Trade (VietinBank) and the Petrolimex Group Commercial Joint Stock Bank (PG Bank) have called off a potential merger after nearly two years of negotiations. The Viet Nam Bank for Industry and Trade (VietinBank) and the Petrolimex Group Commercial Joint Stock Bank (PG Bank) have called off a potential merger after nearly two years of negotiations. The information was announced by Vietinbank, one of Viet Nam’s largest state-owned commercial banks, in its recently-released audited consolidated financial statements. PG Bank is a subsidiary of Viet Nam’s top fuel importer and distributor Viet Nam National Petroleum Group (Petrolimex), which is currently holding a 40 per cent stake in the unlisted domestic lender. As stated in Vietinbank’s financial statement, VietinBank and PG Bank will report to the competent authorities of each party for approval to terminate their merger plan. They will also organise a shareholder meeting to … [Read more...] about Vietinbank and PG Bank deal collapses